UK Introduces Bill in Parliament to Ratify Australia, New Zealand FTAs
The U.K. government introduced a bill that would ensure the government is ready to implement the independently negotiated trade agreements with Australia and New Zealand, the Department for International Trade said May 11. Both deals would remove tariffs on 100% of U.K. goods exported to the two Pacific island nations. A domestic U.K. bill is needed to fully implement the FTAs since the agreements will change the government's rules on procurement to give Australian and Kiwi manufacturers full access to the procurement benefits laid out in the FTAs.
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Following the introduction of the bill, the British Parliament will scrutinize the agreements under the Constitutional Reform and Governance Act, and then need to agree to the bill, DIT said. Parliament will then need to pass legislation to make the required changes to the procurement regime. Once these steps are followed, the agreements can be ratified, the DIT said.
"I am excited to see the UK implement its first ‘from scratch’ Free Trade Agreements in over 50 years and deliver on a key Brexit benefit -- having our own independent trade policy," International Trade Secretary Anne-Marie Trevelyan said. "This Bill will enable us to export our world-class goods and services and bring high-quality imports at reduced rates for British customers."